Mumbai: Simplex Projects’ initial public offer got subscribed 33.56 times on its last day 13 July.
The company received bids for 100.6 million equity shares against 3 million shares on offer, data available on the stock exchanges show.
The price band of the issue, open between 10-13 July, has been fixed at Rs170-185.
Most of the bids have come from qualified institutional buyers followed by the non-institutional investors.
The portion set for retail investors also received decent response.
Simplex Projects is into construction business, providing integrated engineering, procurement and construction services for civil and structural construction and infrastructure projects.
The company would utilise the IPO proceeds mainly to finance long-term working capital, acquisition of plant and machinery and making investment in subsidiary Simpark Infrastructure Pvt Ltd.